Ferrari (NYSE:RACE) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. raised its position in Ferrari (NYSE:RACE) by 1.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,693,201 shares of the company’s stock after purchasing an additional 45,754 shares during the quarter. Vanguard Group Inc. owned about 1.93% of Ferrari worth $2,002,581,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in RACE. Hanson & Doremus Investment Management acquired a new stake in Ferrari in the 4th quarter valued at approximately $26,000. Hobbs Group Advisors LLC bought a new position in shares of Ferrari in the third quarter worth $47,000. Armstrong Advisory Group Inc. increased its holdings in shares of Ferrari by 100.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 100 shares of the company’s stock valued at $42,000 after purchasing an additional 50 shares during the period. Kestra Investment Management LLC bought a new stake in shares of Ferrari during the fourth quarter valued at about $45,000. Finally, Plato Investment Management Ltd acquired a new stake in Ferrari in the fourth quarter worth about $53,000.

Analysts Set New Price Targets

Several research firms have commented on RACE. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferrari in a research note on Thursday, February 6th. They set a “hold” rating on the stock. Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. Finally, StockNews.com raised Ferrari from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $507.14.

Ferrari Stock Down 4.7 %

NYSE RACE opened at $413.76 on Thursday. The company has a market capitalization of $100.29 billion, a P/E ratio of 45.22, a PEG ratio of 4.43 and a beta of 0.94. Ferrari has a 12 month low of $399.27 and a 12 month high of $509.13. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.57 and a quick ratio of 3.55. The company’s 50 day simple moving average is $456.26 and its 200 day simple moving average is $452.94.

Ferrari Increases Dividend

The business also recently declared an annual dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Wednesday, April 23rd will be issued a $3.1265 dividend. The ex-dividend date is Wednesday, April 23rd. This represents a dividend yield of 0.5%. This is a boost from Ferrari’s previous annual dividend of $2.44. Ferrari’s dividend payout ratio is currently 5.63%.

Ferrari Company Profile

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.